WASHINGTON — While CUNA supports the proposed NCUA regulation expanding credit union service organization powers, the group expressed concern about expanding federal oversight of state-chartered CUSOs. NAFCU favors the business expansion but is undecided on the oversight change.
"It's a good step that they are looking at additional activities for CUSOs, and we are going to sort through the regulations to see if there are additional activities that could be added," said CUNA Senior Vice President and Deputy General Counsel Mary Mitchell Dunn.
"It's a great opportunity to take advantage of these services and save money because of economies of scale. This makes the rules more user friendly," agreed Carrie Hunt, senior counsel and director of regulatory affairs of NAFCU.
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